4 May 2024 current affairs

4 May 2024 current affairs


National news

CAG and Nepal’s Auditor General Sign MoU to Enhance Cooperation in Auditing:

  • Comptroller and Auditor General of India (CAG), Girish Chandra Murmu, signed a Memorandum of Understanding (MoU) with Toyam Raya, Auditor General of Nepal, in Kathmandu.
  • Objective: The MoU aims to strengthen collaboration between the two Supreme Audit Institutions (SAIs) and facilitate the exchange of auditing expertise.
  • Key Focus Areas: Enhancing professional capacity, sharing knowledge in public sector audit, and providing mutual assistance in audit processes are central to the agreement.
  • Significance: Establishes a platform for ongoing cooperation, contributing to the development and improvement of auditing practices in both countries.
  • High-Level Engagements: During the visit, CAG Girish Chandra Murmu met with Nepal’s Prime Minister, Pushpa Kamal Dahal, and Finance Minister Barsaman Pun, further fostering bilateral relations.


  • Capital: Kathmandu
  • Currency: Nepalese Rupee
  • President: Ram Chandra Poudel
  • Prime minister: Pushpa Kamal Dahal

International news:

Nepal Introduces New Rs 100 Currency Note Featuring Disputed Territories with India:

  • Nepal announces printing of new Rs 100 currency note featuring disputed territories: Lipulekh, Limpiyadhura, and Kalapani.
  • Decision made by council of ministers chaired by Prime Minister Pushpakamal Dahal ‘Prachanda’.
  • Map inclusion termed as “artificial enlargement” and “untenable” by India.
  • Government spokesperson Rekha Sharma confirms the decision during media briefing.

Economy news:

OECD Raises Indian Economy Growth Forecast to 6.6% in 2024-25:

  • OECD’s “Economic Outlook” report boosts India’s economic growth forecast for 2024-25 to 6.6%, up from its previous projection of 6.2%.
  • Consistent Growth: The organisation also anticipates a growth rate of 6.6% for India in 2025-26, highlighting a sustained positive outlook.
  • Global Context: OECD expects the world economy to expand by 3.1% in 2024 and 3.2% in 2025, signaling moderate global growth prospects.
  • International Validation: OECD joins the International Monetary Fund in revising upward India’s growth prospects, aligning with broader international sentiment towards the Indian economy’s potential.

OECD Overview: Short Notes

  • Establishment: Founded in 1961,
  • Membership: Comprising 38 countries, with Costa Rica joining in 2021. Notably, China, India, and Russia are not OECD members.
  • Significance: OECD members represent 18% of the world’s population, three-fifths of global GDP, three-quarters of world trade, and half of the world’s energy consumption.
  • Headquarters: Located in Paris, France.

Bank news

SEBI Mandates Registration of PMS Distributors with APMI:

  • SEBI enforces compulsory registration with APMI for Portfolio Management Services (PMS) distributors to enhance collective oversight.
  • Effective from January 1, 2025, aiming to facilitate ease of business for portfolio managers.
  • APMI tasked with outlining registration criteria by July 1, aligning with industry norms similar to mutual fund distributors registering with AMFI.
  • “In order to facilitate collective oversight of PMS (Portfolio Manager Services) distributors at the industry level, it has been decided that any person or entity involved in the distribution of portfolio management services shall obtain registration with APMI,” Sebi said.


  • Headquarters: Mumbai, Maharashtra
  • Head: Madhabi Puri Buch

Award news:

Dr. Purnima Devi Barman Wins Second Whitley Gold Award for Conservation Efforts

  • Wildlife biologist from Assam, Dr. Purnima Devi Barman, awarded the Whitley Gold Award (Green Oscar) for her conservation work on the endangered Hargila bird.
  • Recognized for efforts to protect the Greater Adjutant Stork and its wetland habitat.
  • Received the award from Princess Anne at the Royal Geographical Society ceremony in London.
  • Dr. Barman mobilized local communities, particularly women, to protect nesting areas and change perceptions about the bird.
  • Population of Hargila birds increased from 450 to over 1800 due to conservation efforts led by Dr. Barman and her team.

International Chess Federation Awards Grandmaster Title to Indian Chess Prodigy Vaishali Ramesh Babu

  • Indian Chess Prodigy, Vaishali Ramesh Babu who has been awarded the title of Grandmaster by FIDE.
  • She is the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli and she completed the requisite 2500 ELO points at the Llobregat Open tournament in Spain, last year.

International Chess Federation or World Chess Federation (FIDE)

  • Founded on 1924
  • Headquarters- Lausanne, Switzerland
  • President- Arkady Dvorkovich

Appointment news:

Pratima Singh (IRS) Appointed as Director in DPIIT:

  • Pratima Singh, an Indian Revenue Service (IRS) officer from the 2009 batch, appointed as Director in the Department of Promotion of Industry and Internal Trade (DPIIT) by the Department of Personnel & Training (DoPT).
  • Under Central Staffing Scheme: Pratima Singh’s selection for the prestigious role falls under the Central Staffing Scheme, highlighting her expertise and suitability for the position.
  • Tenure: She will serve as Director in DPIIT for a period of five years from the date of assuming charge or until further orders, whichever comes earlier, as per the announcement by DoPT.

Sanjaya Kumar Mishra Appointed President of GSTAT:

  • Sanjaya Kumar Mishra, former Chief Justice of Jharkhand High Court, appointed as President of GST Appellate Tribunal (GSTAT) for 4 years.
  • Appointment approved by the Appointment Committee of Cabinet based on recommendations of a Search-Cum-Selection Committee.
  • Aim is to expedite the establishment and functionality of GSTAT, set to commence operations from July 1.

The Goods and Services Tax Appellate Tribunal (GSTAT) is a statutory body formed under the Central Goods and Services Tax Act, 2017, and the respective State Goods and Services Tax Acts. It serves as a forum for resolving disputes between taxpayers and tax authorities regarding GST matters.

Key points about GSTAT:

  1. Composition: GSTAT consists of a President and members who are appointed by the central and state governments.
  2. Jurisdiction: GSTAT has jurisdiction over appeals against orders passed by the appellate authorities under the GST law.
  3. Functions: Its primary function is to hear and dispose of appeals against orders issued by the Appellate Authority for Advance Ruling (AAAR) and the Authority for Advance Ruling (AAR) under the GST regime.
  4. Powers: GSTAT has the powers of a civil court, including the ability to summon and enforce the attendance of witnesses, compel the discovery and production of documents, and examine witnesses under oath.

Vice Chief of Naval Staff – Vice Admiral Krishna Swaminathan:

  • Vice Admiral Krishna Swaminathan, AVSM, VSM assumes charge as Vice Chief of Naval Staff.
  • On assuming charge, the Flag Officer paid homage to Bravehearts that made the supreme sacrifice in service of the nation by placing a floral wreath at the National War Memorial.
  • The Flag Officer was Commissioned into the Indian Navy on July 01 1987 and is a specialist in Communication and Electronic Warfare.

Sports news:

India to Host 2025 BWF World Junior Badminton Championships in Guwahati

  • The Badminton World Federation (BWF) declared India as the host country for the prestigious 2025 BWF World Junior Championships at the National Centre of Excellence in Guwahati.
  • Return to India: After a 17-year hiatus, the BWF World Junior Championships will return to India, marking a significant milestone in the country’s badminton history.
  • Previous Hosting: India last hosted the event in 2008, held in Pune, making the upcoming championship a highly anticipated event for badminton enthusiasts and players nationwide.

In another significant development, the 2026 edition of the BWF Thomas and Uber Cup Finals will be held in Horsens, Denmark

Important days:

31st World Press Freedom Day: A Press for the Planet:

  • Observed annually on May 3rd, World Press Freedom Day highlights the importance of a free press in fostering democracy and ensuring the right to information.
  • Designated by the United Nations General Assembly in 1993, following a UNESCO recommendation.
  • Press, known as the Fourth Estate, plays a crucial role in shaping public opinion and holding power to account.
  • Theme of the 2024 World Press Day is “A Press for the Planet: Journalism in the Face of the Environmental Crisis,” emphasizing the role of journalism in addressing environmental challenges.

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